Big Lots Inc., a general merchandise closeout retailer, said that it will open six new stores in the Chicago area. The new locations, set to open on Nov. 16, include Carpentersville, Elgin, Franklin Park, Lockport, Naperville and Streamwood, the company said Tuesday. Big Lots stores average 29,000 square feet and sell merchandise including consumables, housewares, toys and gifts at prices that it says are 70 percent below regular-priced retailers. ...

Aug 23 (Reuters) - Big Lots Inc reported a lower-than-expected quarterly profit on higher costs and a loss at its Canadian operations, and the close-out retailer cut its full-year adjusted earnings forecast. Shares of the company, which stocks products that have been overproduced, discontinued, or rejected by other retailers, fell 15 percent to $32.90 premarket on Thursday. They closed at $38.84 on Wednesday on the New York Stock Exchange. Big Lots now expects fiscal 2012 adjusted earnings of $2.80 to $2.95 per share, lower than its previous forecast of $3.25 to $3.40 per share.

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